Marqeta picks metro Denver as second headquarters

Marqeta, a global modern card issuing platform, has chosen the Denver area out of 17 other sites to open its second headquarters.

Marqeta, based in Oakland, Calif., plans to employ more than 500 people in Colorado over the next eight years with a goal of hiring 100 employees within the first 12 months of opening its new office, the company and state officials announced Tuesday.

“Colorado is an emerging leader in financial technology because of our high quality of life and talented workforce, and I’m very excited to have a great company like Marqeta make its second home in Colorado. Our state is a hub for innovation and the entrepreneurial spirit,” Gov. Jared Polis said in a statement.

Innovative companies are seeking lower-cost markets, said Michelle Hadwiger, director of Global Business Development at the Colorado Office of Economic Development and Trade.

“Marqeta signals to the market that Colorado is a prime location for companies seeking a diverse industry base,” Hadwiger said.

Started in 2010, Marqeta provides payment card programs to such clients as Uber, Square, Instacart and DoorDash. It employs more than 430 people and at the end of 2019 had issued more than 140 million cards through its platform. It operates in the United States, Canada, Europe and Australia.

“We are thrilled to be expanding Marqeta into metropolitan Denver, exporting the unique culture and energy from our Oakland home into a new city and tapping into a deep talent pool in Colorado,” said Jason

Gardner, founder and CEO of Marqeta.

The state Economic Development Commission approved a Job Growth Incentive Tax Credit of $5.5 million June 18 to help land Marqeta’s second headquarters. State officials said the average annual wage of the new jobs is $134,472 and the positions will be in management, finance and business development, software engineering, marketing, legal and operations.